Capital advisory
The capital your company raises, debt or equity, on terms you can read.
The discipline
Debt or equity for your company, weighed before it is sought.
Your company is weighing a raise. Debt is priced on the cash flow, the security and the leverage the business can carry, and equity on the ownership and the terms the money comes in on. Debt or equity, which kind and from whom: settled with you before the first approach is made.
Your company is prepared and the process structured first. Lenders and investors are then introduced through the firm's relationships, and each contracts with your company directly. You know what ValMonde is paid before any work starts, and any fee a lender or investor pays the firm is disclosed to you before you sign with them. Where the raise is wrong, or too early, you hear it at the start.
The work
Prepared before any approach
The numbers, the story and the structure are put in order first: the model, the presentation to lenders and investors, and a data room that opens only to those who have signed a confidentiality agreement.
Introductions through relationships
Lenders and investors are reached through the firm's relationships across Mexico City, London, Dubai and Manila. The conversation begins in your own city and your own language.
Every term read with you
Covenants, security, pricing, governance and exit rights, each read with you before your company commits to any of them. Your company contracts with the lender or investor directly. You decide, and the advice stays with you through diligence, drawdown or closing.
The fee, agreed first
The retainer and the completion fee are both in writing before the mandate begins, and any fee ValMonde earns from a lender or investor is disclosed to you beforehand.
What the advice covers
You live with a facility for years, and the covenants decide how comfortably.
Covenants, security, tenor and repayment profile decide whether a facility fits your company, and you go through each of them with the advisor before a term sheet is signed. A bank and a private credit fund each price the same company differently. The right lender is the one whose terms your company can carry through a bad year, and that year is the one the terms are read against.
Covenants
Leverage, coverage and the reporting that goes with them, each tested against the year the plan does not go to schedule.
Secured and asset-based lending
Facilities secured on receivables, inventory, equipment or property. What is pledged, in what ranking, and whether your own name stands behind it, weighed for what each costs you on the day a lender enforces.
Refinancing and acquisition debt
Existing facilities replaced only where the new terms beat the old across the whole tenor, and acquisition debt sized against the cash flow of the combined company before any lender is approached.
The terms of an equity round decide what kind of shareholder you have taken on.
Growth capital, a minority or strategic investor, or a partial exit all put a new name among your shareholders. The valuation comes first, and then the terms are read more slowly with the advisor: governance, information rights, preferences and exit rights, because the rights outlast the money. An investor with a board seat sits at every meeting after completion, so the terms are written for those years.
Valuation and preference
The headline price and the liquidation preference behind it, read together, because a preference can return the investor's money before yours.
Governance and vetoes
Board seats, reserved matters and information rights, each weighed for what they mean on the day you disagree with your investor.
Partial exits
Selling part of what you own. The proceeds are yours and sit inside your personal position, and the shareholders' agreement that follows is read for what it lets the new shareholder do.
Nothing is signed before the last term has been read.
Who this serves
Growth ahead of cash
An order book, a second site, or a new market that your cash flow cannot carry on its own.
Debt that no longer fits
Facilities priced and structured for the company you were, now due for refinancing.
Acquisition or partial exit
Buying another company, or selling part of the one you own, and what either does to what you personally hold.
How it begins
- 01
The introductory meeting
An hour on your company, what the capital is for, and whether a raise is the right answer at all.
- 02
The fact finding
Your numbers, your ownership, your existing debt and your personal position, weighed together before any lender or investor is named.
- 03
The proposal
A proposal in writing: the instrument sought, the process, the retainer and the completion fee, agreed before anyone outside the room is approached.
The kinds of capital
Bank lending
Term loans and working capital facilities, at home and from banks abroad where your operations give them a reason to lend.
Private credit
Funds that lend directly, in term and structured facilities sized to the cash flow and the assets that support them.
Equity investors
Growth capital and minority or strategic investors, and the governance and exit rights that come with their money.
No raise
The cheapest answer for some companies, and the one you hear when it is true.
Questions
What kinds of capital?
Debt, from term loans and working capital lines at banks to term and structured facilities from private credit funds, whether the purpose is growth, refinancing or an acquisition. Equity, from growth capital and minority or strategic investors to a partial exit, where the proceeds come to you personally.
What does a mandate cost?
A retainer while the mandate runs and a completion fee if the raise closes, both agreed in writing before the mandate begins. Any fee a lender or investor pays ValMonde for the introduction is disclosed to you in writing before you sign with them.
Who do I contract with?
Your company contracts with the lender or investor directly, on terms read with you first, and in a partial exit the seller is you personally. ValMonde advises and introduces, and no rate, valuation or outcome is promised.
Is a raise always the answer?
No, and you hear it plainly. Some companies are told that the raise is too early, that the instrument is wrong, or that the business is better served by not raising at all.
How long does a raise take?
The proposal sets an indicative timetable, stage by stage, so you know at each one where the process stands. Diligence and the market decide whether it holds, and no closing date is promised.
Does the advice end at closing?
No. On the terms the proposal sets, it continues after drawdown or closing: covenant reporting gone through with you, the investor relationship kept in view, the next facility considered well before this one matures, and the next round well before the money runs short.
Why this firm
Borderless by design
The firm exists for lives that cross jurisdictions. One relationship reaches the global financial markets, in every currency you live in.
Your name on everything
Assets held in your name with regulated custodians, accounts contracted on terms you can read, and fees disclosed in writing beforehand.
An advisor who stays
A named investment advisor who knows your whole position and remains through every move it makes.
12
Years
US$100m+
Under advice
4
Jurisdictions
An invitation
Discuss your company's financing with an investment advisor.